Indian share markets continued to climb higher in the post-noon trading session. Majority of the sectoral indices are trading in the green with consumer durable, oil & gas and capital goods stocks being the biggest gainers. Auto, realty and metal are the only stocks trading in the red.
Majority of the large software stocks are trading in the green with Info Edge and NIIT being the biggest gainers. However, HCL Tech and HCL Infosys are among the few stocks trading in the red. As per a leading financial daily, IT companies are making India the testing hub for their healthcare solution products that they intend to sell to healthcare providers in the US. Indian IT companies such as Wipro, TCS, and HCL Technologies are working with large hospital chains to fine-tune their healthcare solution products. Wipro is working with Apollo hospitals to pilot a foetus monitoring device. This device enables doctors to monitor vital parameters of the baby remotely thereby cutting down frequent clinic trips of women in advanced stages of pregnancy. TCS in association with Apollo Hospitals is digitizing the records of over two million patients for electronic management. HCL Tech is working with a pharma company to aid middle-aged women in India to mange asthama through mobile health solutions.
Most of the Indian pharma stocks are trading in the green with JB chemicals and Cadila healthcare being the major gainers. As per the financial daily, Biocon Ltd has got approval for Herceptin generic from the Indian drug regulator; Drug controller General of India(DCGI). Reportedly, the company has still not mentioned as to when it will launch the drug. This will be second biosimilar launch by the company in the Indian market. Herceptin is Roche's drug and some time back the company had withdrawn its patent on Herceptin in India. Roche had expectedly dropped claims for a patent on drug by not applying for a renewal of its existing patent in India. Herceptin is indicated for breast cancer, generically also known as Trastuzumab. The said drug being a biologic is not easy to develop and hence has high entry barriers. This approval is certainly positive development for Biocon. Biocon is currently trading up by 1.95%.